1246 GMT - "Friday's U.S. jobs report was a wake-up call," and should lead to more rapid action by the Fed's monetary policymakers, ING's chief international economist James Knightley writes in a research note. Hiring slowed sharply over the summer, according to revised figures set out last week that suggested the American jobs market isn't as robust as once thought. Coupled with increasingly gloomy business surveys, that should jolt the Fed into faster action, Knightley says. Consensus is likely to build among the central bank's rate setters that they should begin cutting rates at September's meeting, Knightley says; the Fed would in that case likely continue cutting at subsequent meetings, he adds. Changes at the top of the Fed could next year bring about even faster rate cuts, Knightley says. (joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

August 06, 2025 08:47 ET (12:47 GMT)

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